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Global energy storage market continues to rise

News Source:http://www.jinchemical.com/ ; SendDate:2020-9-1 14:55:17 

From now to 2022, the epidemic will continue to spread, and the development rhythm of energy storage industry will be disturbed. However, we still expect that the global energy storage market will continue to increase year after year. In this report, we will present a recent outlook on the energy storage market and a review of the impact on the epidemic.

The global energy storage market is expected to increase from 3.3gw/6.5gwh in 2019 to 4.6gw/9.4gwh in 2020, setting a new record. No matter how the epidemic develops in the coming months, we believe that the energy storage market will continue to grow.

In the past few months, pembo new energy finance has analyzed the potential impact of the epidemic under three epidemic development scenarios. Scenario one is the single wave shock of the epidemic situation, and the second scenario is the multi wave rebound of the epidemic situation. Scenario 3 is the most conservative, for the epidemic situation continues to recur until the second half of next year, when the economy begins to recover gradually.

If all countries experience only a single shock, the energy storage market is expected to grow by 25% annually from 2019 to 2022. The scale of energy storage market in most countries has grown by more than 25%. Under the multi wave rebound and persistent repeated scenario, the growth rate of market scale decreased to 23% and 19% respectively.

In 2020, China is likely to rank first in the global energy storage market. In the second quarter of 2020, most of the construction and planning of energy storage projects have been resumed. Large scale renewable energy + energy storage projects, which can solve the problem of power grid interconnection, are becoming more and more popular. Some provinces and autonomous regions have also launched pilot projects of electric power auxiliary service market.

South Korea's energy storage projects are on fire again. With the decline of incentive measures, the expansion of energy storage market is gradually slowing down. Japan's energy storage utilization rate is still strong. With the expiration of photovoltaic on grid price subsidy and photovoltaic users' willingness to pay for grid stability, the demand for energy storage on the user side continues to grow.

Europe is expected to become the largest market in 2022, with the UK and Germany being the most active. In the UK, the balancing mechanism and the Renewable Energy Co site Project mean that energy storage is promising. Although Germany is affected by the epidemic, the household energy storage market keeps growing momentum.

In the United States, grid side energy storage projects are almost unaffected by the epidemic. However, the development of energy storage market may be affected by geopolitics. Although the state markets accelerate the deployment of clean energy and energy storage, the US Executive Order No. 13920 restricts the import of China's power equipment, which is a big risk for developers. While installers gradually turn to online marketing, the growth rate of household photovoltaic installation scale and sales volume slows down.

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